On Sunday May 26, President Muhammadu Buhari advised Nigerian farmers to increase their food production as the country has ‘no money’ for food importation. This was said in an address to journalists after observing this year’s ‘Eid’ prayer at the Presidential Villa in Abuja.
After observing this year’s ‘Eid’ prayer with his family at the Presidential Villa due to the social distancing rule during this pandemic, the president wished farmers the best of luck during the rainy season and hoped for a bountiful season.
“I wish the farmers could go and stay in their farms so that we can produce what we need sufficiently so that we don’t have to import. In any case, we don’t have money to import so we must produce what we have to eat,” the president said.
Since the coronavirus outbreak, Nigeria has been looking at various ways of diversifying and developing a vibrant commodity trading ecosystem. It has been proven that economic diversification is Nigeria’s only way to survive the current environment of global economic uncertainty and the unpredictable oil price that constantly hits the country hard.
This is because the economy continues to be over-reliant on oil, which accounts for 80 percent of government revenue and 90 percent of foreign exchange earnings.
One of the key initiatives of the 10-year Capital Market Master Plan is the development of a thriving commodity trading ecosystem as part of the capital market’s contribution to the national economy with agriculture being a vital means of achieving this goal.
Prior to the coronavirus pandemic, Nigeria has restricted food importation as the country strived to produce a lot of the food it consumes. The country also shut its borders with neighbouring countries, largely to prevent the importation and smuggling of items such as rice, poultry and petrol.
With the coming of the virus, the government is putting in place measures that will reduce the impact of the pandemic on farmers. Last month, Premium Times reported on how the president directed officials to ensure the impact of the coronavirus pandemic is minimised on farmers.
He ordered the Minister of Agriculture and Rural Development, Sabo Nanono, and other key players in the sector to join the already existing 12-member Presidential Task Force (PTF) as a strategy to minimise the impact of COVID-19 on farmers.
The president directed the ministers to develop a comprehensive policy for a “Nigerian Economy functioning with COVID-19” by beginning the process of ensuring agricultural products have easy access across the states.
Also, Mr Nanono inaugurated the joint technical task team on emergency response to COVID-19 to ease the movement of agricultural inputs across Nigeria.
Since the Buhari administration came into office, several mechanisms have been put in place to assist farmers with resources, farm inputs, seedlings, and other materials, such as the government’s Anchor Borrowers Programme, managed by the Central Bank of Nigeria, and largely responsible for Nigeria’s increase in local rice production.
Although agriculture contributes a lot to Nigeria’s Gross Domestic Product, and employs 40 percent of the workforce as well as accounts for 22 percent of Nigeria’s Gross Domestic Products (GDP), farming is still artisanal with farmers relying on rainwater for irrigation of their fields.
Obey COVID-19 rules
Buhari also urged Nigerians to strictly adhere to guidelines and measures put in place against the spread of the virus in the country.
NCDC report shows a total of 8,068 confirmed cases, 2,311 have recovered and have been discharged, and 233 deaths have been reported.
